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Dec 11, 2012
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the u.s. senate. we're going to see just how much progress has been made or how little progress between the president and congress on the fiscal cliff situation. >>> and we'll find out just how much the european debt crisis has affected tourist's willingness to travel to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens,
the u.s. senate. we're going to see just how much progress has been made or how little progress between the president and congress on the fiscal cliff situation. >>> and we'll find out just how much the european debt crisis has affected tourist's willingness to travel to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now...
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Dec 5, 2012
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but ultimately, the u.s. needs to be a droeiver of growth for e economy. the u.s. in 2013 is going to be a very difficult year. >> china markets doing well, as sixuan was saying on chinese leadership, pledging to do whatever they can to keep economic growth going. how important is that for the german economy? >> it is important. one of the interesting things about germany is its trade numbers have held up reasonably well despite the slowdown in the rest of europe. they're obviously able to find export markets elsewhere in the world. the asian markets are very important. so of course asia is a big destination for german exports and that economy needs to grow rapidly to support whatever growth you do get out of europe next year. >> yeah, we're talking about growth, recap this. eurozone retail sales out just a few minutes ago. down sharply in october. down 1.2% in october month to month. the pmi today for services did tick up. they're still deep in contractionary. so clearly we look to be in recession this yaur. does it continue in the first quarter? >> i think what's
but ultimately, the u.s. needs to be a droeiver of growth for e economy. the u.s. in 2013 is going to be a very difficult year. >> china markets doing well, as sixuan was saying on chinese leadership, pledging to do whatever they can to keep economic growth going. how important is that for the german economy? >> it is important. one of the interesting things about germany is its trade numbers have held up reasonably well despite the slowdown in the rest of europe. they're obviously...
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Dec 26, 2012
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it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers is michael mcnamara of mastercard advisers. great to have you with us. many analysts, retailers had high hopes for the season. i think it's looking weaker than expected. of course we had hurricane sandy and we're deal
it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since...
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Dec 18, 2012
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we're seeing u.s. continuing to grow, asia continuing to grow, not just china, but other parts of asia. india is a big percentage growth of a very small business and then parts of the middle east very strong. europe is much stronger for obvious reasons. but i think we have nice balance of growth around the world. >> so just on the middle east, i'm assuming that business in most areas of the middle east has been quite tough here over the past two years especially or are you seeing pockets continuing to grow despite the -- >> yeah. so uae in saudi has been very strong. but clearly egypt and places like syria have been affected. and we've defer natalie seen a reduction in the market. but less growth than we've seen in the past. but i think, again, over time, it's a wealthy part of the world. >> there's speculation that you could be selling somewhere in the region of $2 billion worth of assets in hong kong, london, new york, paris. are you? >> no, no. too much speculation. we have on the market a slight hi
we're seeing u.s. continuing to grow, asia continuing to grow, not just china, but other parts of asia. india is a big percentage growth of a very small business and then parts of the middle east very strong. europe is much stronger for obvious reasons. but i think we have nice balance of growth around the world. >> so just on the middle east, i'm assuming that business in most areas of the middle east has been quite tough here over the past two years especially or are you seeing pockets...
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Dec 3, 2012
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and whether it's the u.s. fiscal cliff, people negotiating in greece, or in the uk when finance ministers say, oh, there's a catastrophe around the corner, there usually isn't. and saying that makes things worse. one can't deny there could be a set of circumstances in which the bond vigilantes wake up and say dumpster link. but at the moment there's no reason to think that's been happening. sterling has been stable for three plus years now since the end of '08. interest rates remain low. plenty of opportunity for capital to leave the uk. it's not. and meanwhile the growth strategy is missing because the tax strategy is in-company here ept. in the end, austerity is only good insofar as you're actually paying for the right things an cutting the right things. >> so we cut investment spending but haven't cut welfare spending. >> exactly. which is the wrong way around. but even then if you want to do tax cuts to stimulate the economy, why are we doing tax krets. that's been on the table forever. >> why do you think
and whether it's the u.s. fiscal cliff, people negotiating in greece, or in the uk when finance ministers say, oh, there's a catastrophe around the corner, there usually isn't. and saying that makes things worse. one can't deny there could be a set of circumstances in which the bond vigilantes wake up and say dumpster link. but at the moment there's no reason to think that's been happening. sterling has been stable for three plus years now since the end of '08. interest rates remain low. plenty...
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Dec 19, 2012
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and on the u.s. side, not just the u.s. but on the western side, there's a feeling that the chinese market is not open and that open markets should be a two-way street. it's not just the west is open, china has to be open, too. >> we'll leave it there. adjunct associate professor at the chinese university of hong kong. frank, thank you very much. >>> now for more on this topic, in fact on asia more bradley, let's get more on the conversation. global head of economics at society national. when we look into 2013, how -- how he been of power shifting, and is china going to start using its foreign reserves as more of a bargaining tool? >> well, i don't really think they will. and i think what's important to see is that the foreign exchange reserves are also part of the currency policy. if china were to massively diversify their foreign exchange reserves special different currencies, then they would also have to change the currency policy. so the two really to my mind go hand in hand. now, that doesn't necessarily mean that if t
and on the u.s. side, not just the u.s. but on the western side, there's a feeling that the chinese market is not open and that open markets should be a two-way street. it's not just the west is open, china has to be open, too. >> we'll leave it there. adjunct associate professor at the chinese university of hong kong. frank, thank you very much. >>> now for more on this topic, in fact on asia more bradley, let's get more on the conversation. global head of economics at society...
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Dec 28, 2012
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if the u.s. goes over the cliff, if confidence starts to rock around, if we have financial market turbulences, demand for safe havens should go up. we already see these small movements with very well volumes where there's a little bit of money flowing back into safe havens now. i would expect gold to have some role in this, as well. >> what's interesting is given that and given all the reasons why people have historically liked gold, you would have expected it to be a strong asset class in the second half of the year, maybe with some of these uncertainties around. but that wasn't the case. it really underperformed and that has caught so much attention because it suggests people, you know, what really are the drivers here? >> yeah, quite. so safe haven less so, but still what you're seeing is em central banks continue to add and essentially if you like catching up with some of the nations. iraq add to gold as well as the many other em central banks. we still own gold, so we're still looking for it
if the u.s. goes over the cliff, if confidence starts to rock around, if we have financial market turbulences, demand for safe havens should go up. we already see these small movements with very well volumes where there's a little bit of money flowing back into safe havens now. i would expect gold to have some role in this, as well. >> what's interesting is given that and given all the reasons why people have historically liked gold, you would have expected it to be a strong asset class...
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Dec 10, 2012
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the u.s. goes over the fiscal cliff. >>> italian shares are down nearly 3% this morning. for the most part, it is bank stocks leading the way down. we're now down about 2.76% on the ftse mib. bank stocks have been hit particularly hard this morning. earlier, we saw shares down 5.6%. we're seeing the same thing, whether it's bmps hitting session lows down nearly 6% comes amid concerns about leadership and economic reform in italy following mario monte's announcement that he'll resign once the budget has been passed. this move is likely to bring the country forward to elections next year. the italian prime minister has offered no clue as to whether or not he will run and it comes after sylvia berlusconi declared over the weekend he would throw his hat in the ring for the job of premier. carolyn ross is in italy following the details there. can you walk us through the time frame here? when are we expected monte to step down? what happens next? >> good morning to you, kelly. here is the time frame
the u.s. goes over the fiscal cliff. >>> italian shares are down nearly 3% this morning. for the most part, it is bank stocks leading the way down. we're now down about 2.76% on the ftse mib. bank stocks have been hit particularly hard this morning. earlier, we saw shares down 5.6%. we're seeing the same thing, whether it's bmps hitting session lows down nearly 6% comes amid concerns about leadership and economic reform in italy following mario monte's announcement that he'll resign...
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Dec 17, 2012
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>> i think that the u.s.-china trading relationship is now so huge, so important, it's grown beyond any particular leadership question. it is a very large trading relationship. a trading relationship that is that huge is bound to generate trade friction. in fact, if you look ten, 20 years ago, people talked about north/south trade. people don't really talk about north/south trade any more because north/south trade is dominated by u.s./china trade. i think that's only going to increase. i think that as this trading relationship expands, it's natural that it's going to generate trade frictions on the margins and so we'll likely see more disputes in the future. >> let's talk about russia. a couple of days ago, a number of countries have voiced their concerns about the delays in compliance to wto rules. are you concerned? >> i think it's valid to be concerned about whether russia is going to comply fully and when. in fact, its membership is -- the russians have been in the wto since august 22nd of this year. so i
>> i think that the u.s.-china trading relationship is now so huge, so important, it's grown beyond any particular leadership question. it is a very large trading relationship. a trading relationship that is that huge is bound to generate trade friction. in fact, if you look ten, 20 years ago, people talked about north/south trade. people don't really talk about north/south trade any more because north/south trade is dominated by u.s./china trade. i think that's only going to increase. i...
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Dec 21, 2012
12/12
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it was the u.s. elections, the fiscal cliff talks. >> and john, what is it going to be, cab driving or stock picking? >> both. the back heavy trade has been used. the face has been used. so, yeah, i'm not coming back, but hopefully it will be running parallel. >> arnab, staying out of stock picking for now? >> it's not my cup of tea. i would probably be better at driving a cab. >> i wouldn't, that's for sure. john walsh, winner of the trading academy. >>> moving on now, despite fiscal cliff uncertainty at the moment, asia could pick up two. europe will be lucky not to dip into recession, but generally speaking, the outlook for 2013 may be rosy. that's according to kevin gardener, head of investment global strategies. kevin, we've just been talking to people expressing concern about what the drivers are going to be of growth next year. what say you? >> no. that's a good question. and hold on just a second. i don't think we would describe it as positively rosy just yet. we're saying the storm clouds ar
it was the u.s. elections, the fiscal cliff talks. >> and john, what is it going to be, cab driving or stock picking? >> both. the back heavy trade has been used. the face has been used. so, yeah, i'm not coming back, but hopefully it will be running parallel. >> arnab, staying out of stock picking for now? >> it's not my cup of tea. i would probably be better at driving a cab. >> i wouldn't, that's for sure. john walsh, winner of the trading academy. >>>...
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Dec 20, 2012
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both offered ran up against scrutiny for u.s. and eu regulators. >>> the u.s. patent office says a patent that helped apple win a $1 billion in damages against samsung is invalid. 9/it distinguishes between single and multi touch gestures on the ipad. apple is likely to appeal the patent ruling. apple shares are adding aboabou about .2% in frankfurt trade. samsung down .8% on korean trade today. >>> google has struck a deal to sell motorola cable top business to a eer is. google has been more focused on revamping the company's struggling mobile unit. take a look at google trade. >>> bernie madoff's younger brother will be sentenced today for his role in the multibillion dollar ponzi scheme. peter was a chief compliance officer at the firm. he pleaded guilty in june to several charges, including security fraud and falsifying records. he faces up to a year in prison. although letters from dozens of friends and family members and business acquaintances were filed earlier this week asking the judge for leniency. >>> european markets are mixed. adding about 10% desp
both offered ran up against scrutiny for u.s. and eu regulators. >>> the u.s. patent office says a patent that helped apple win a $1 billion in damages against samsung is invalid. 9/it distinguishes between single and multi touch gestures on the ipad. apple is likely to appeal the patent ruling. apple shares are adding aboabou about .2% in frankfurt trade. samsung down .8% on korean trade today. >>> google has struck a deal to sell motorola cable top business to a eer is....
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Dec 14, 2012
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the u.s. is down a little bit. so i think the emerging market consumer names will do particularly well again. >> and on the disclosure front, do we need to indicate whether you have a business relationship with any of these companies? >> no, not at all. >> okay. robert quinn, thanks very much for your time. >>> now stick around because straight ahead on today's show, we'll be live in brussels as europe's leaders gather for their latest summit and we'll look at what else, apart from the banking union, will be on the agenda. plus we speak to the editor of the "financial times." and find out why the paper picked draghi as their person of the year. who is going to be the next timothy geithner? president obama gets ready to unveil his next pick for treasury secretary. >>> and voters head to the polls for their first vote in egypt's constitutional referendum. we'll take a look at the possible outcomes a little later in the program. >>> welcome back to the program. greek lawmakers have submitted a long awaited bill to cur
the u.s. is down a little bit. so i think the emerging market consumer names will do particularly well again. >> and on the disclosure front, do we need to indicate whether you have a business relationship with any of these companies? >> no, not at all. >> okay. robert quinn, thanks very much for your time. >>> now stick around because straight ahead on today's show, we'll be live in brussels as europe's leaders gather for their latest summit and we'll look at what...